Apple with record revenues despite fewer iPhones sold

Shipments declined 1%, but the iPhone revenue increased 13%.

Apple posted its financial report covering the Holiday quarter of 2017. The company has reported a 13% increase in the total revenues in comparison to the same quarter in 2016, which is a new record for Apple. The quarter revenues were $88.3 billion, and this is thanks to the international market. In China, for example, the revenues are up 11%, while the non-US sales accounted for 65% of the revenues.

iPhone revenues also increased by 13% on a yearly basis, despite the fact that Apple sold fewer iPhones in the quarter. There is a slight decline of 1 percent of the shipments in Q4, but the significantly higher price of the iPhone X has resulted in this revenue growth.

The iPad shipments increased by 1% to 13.1 million, while Mac declined 5%. Apple’s services are up 18% thanks to App Store and iTunes.

Tim Cook, Apple’s CEO comments the record quarter:

We’re thrilled to report the biggest quarter in Apple’s history, with broad-based growth that included the highest revenue ever from a new iPhone lineup. iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November. We’ve also achieved a significant milestone with our active installed base of devices reaching 1.3 billion in January. That’s an increase of 30 percent in just two years, which is a testament to the popularity of our products and the loyalty and satisfaction of our customers.”

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